Finally got to demo the DX120
A comparison with my personal favourite at the $300 price point
DX120 vs N5ii
DX120-High gain, Reference sound mode, slow roll off
N5ii-High gain, slow roll off
Bass on the N5ii is more detailed and better controlled.
Mids of the DX120 are more nuanced, revealing and detailed.
Treble of the DX120 is slightly more refined and more natural.
The N5ii is more lively and dynamic sounding. Louder parts get louder, softer parts get softer.
N5ii has better instrument separation, layering and soundstage depth. DX120 is flatter sounding and a little more congested.
Both Daps have similar soundstage width
Both Daps have pitch black backgrounds.